24th May 2018 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Despite the recent rise in oil prices, inflation in the UK undershot expectations falling to 2.4% in April. Core inflation, which strips out volatile items such as food and energy prices, is now just above the BoE target (2%) sitting at 2.1%. Sterling dropped on the back of the data with the prospect of a rate hike pushed back now to November. GBP/USD rates are now […]

23rd May 2018 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Sterling trimmed earlier gains after hitting a one-week high against a broadly firm euro on Tuesday as a top central bank official’s upbeat note on the outlook for future interest rate increases was met by some market scepticism. Currency investors were burnt by the Bank of England’s decision to keep interest rates on hold last month after signalling a rate hike was on the cards until […]

22nd May 2018 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – We had a very quiet day yesterday, though the pound steadily lost ground against the euro throughout the day ahead of today’s speech by BoE Governor Mark Carney at the inflation report hearings. Investors will look towards any shift in inflation expectations which in turn will have direct implications on UK monetary policy. In addition, the next round of Brexit negotiations will resume in Brussels today. […]

21st May 2018 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Confusion over whether Britain will stay in the customs union weighed on the pound on Friday as the currency headed towards fresh five-month lows against the US dollar. Continuing soft UK economic data, a dovish Bank of England and concerns over the UK labour markets has put pressure on the pound over the last month. Sterling bulls will be hoping for readings for inflation and retail […]

18th May 2018 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – No data was released yesterday but Tory MP Ken Clarke suggested that Theresa May would have a hard time to get the cabinet to agree to anything and thus “they’re looking at the moment will require us to stay in the existing arrangements probably well beyond December 2020” thus extended the transitionary period. This comes after Cabinet Office minister David Lidlington said that Britain will not […]

17th May 2018 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – An unconfirmed Telegraph report yesterday suggested that a deal had been reached to keep the UK in the Customs Union. This has since been denied by the government, but Sterling remains buoyed at the best levels seen in over two weeks versus the euro. Smaller gains have been seen against the US dollar. There is no data due to be released today, so it will be […]

16th May 2018 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – The pound fell nearly 0.5% against the USD after data releases suggested a slowdown in the UK’s wage growth and much higher than expected claimant count. Average earnings grew at 2.6% compared to figures in December of 2.8%, though this result was widely expected by the market. The claimant count however missed all expectations with a dramatic rise to 31.2k vs an expected 7.8k. With no […]

15th May 2018 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Sterling traded fractionally higher versus the greenback on Monday amid reports a clearer outlook could be on the horizon in relation to positive Brexit talks. From the UK today we have data in the form of the unemployment numbers at 9:30am, any positive outcome will see the pound continue to gain against its major trading partners. 🇪🇺 EUR – German 10-year bond yields rose to a […]

14th May 2018 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – There was a quiet end to the week for all majors, including Sterling as there was a lack of data. Over the weekend the UK had a boost as Norway’s Prime Minister appeared to back the UK adopting a Norway style deal after it has left the European Union. This could help the UK further down the line as negotiations progress. However, this had no direct […]

11th May 2018 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – Mark Carney lived up to his billing as the ‘unreliable boyfriend’ by deciding to leave interest rates on hold blaming the bad weather for the softer growth in the first quarter. In what was a dovish accompanying statement, the BoE also cut growth forecasts for this year to 1.4% from 1.8% and for 2019 and 2020 cut growth from 1.8% to 1.7%. Sterling unsurprisingly dropped across […]

10th May 2018 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – With no news from the UK yesterday, the market traded in anticipation of the Bank of England’s interest rate decision today. The pound made muted gains across the day but there is now little expectation for a rate hike. Away from the interest rate decision today, we also have manufacturing production due this morning. UK data has been poor recently a continuation of this could see […]

9th May 2018 Market Update Get a snapshot of the day’s most important market events and currency movements sent straight to your inbox every morning. Sign up to our Daily Market Report. 🇬🇧 GBP – The pound continues to tread water whilst the market awaits Thursday’s interest rate decision and policy statement. Sentiment has gone from full confidence in a rate rise this week, to broad doubt that we will see anything at all. The associated pricing has seen Sterling lose considerable ground recently, compounded by the uncertainty regarding Brexit and the Customs Union position. With no data out today, the […]

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